Lustica Bay

The team that is implementing a project of Lustica Bay, today celebrated the official start of construction by placing the first foundation stone.

It was announced that the contractor be a Belgian specialized company BESIX Group which won the tender for the construction of the ten buildings, a number of apartments around a new marina in Lustica Bay.

We are pleased to once again cooperate with BESIX Group whose vision of sustainable development, while recognizing local differences, greatly complements our philosophy – stressed Gerhard Niesslein speaking about this partnership.

BESIX and Orascom have already collaborated on the construction of the prestigious complex of Andermatt Swiss Alps, which is considered to be sister-destination of Lustica Bay, and the board of directors of the company and Nasef Sawiris, brother of the founder of Orascom Samih Sawiris , which illustrates the successful cooperation and brace Sawiris their companies.

Executive Director Niesslein apologized for delays of the investment and said that it will now accelerate the construction of the Lustica Bay project and that investments have slowed down due to major changes since 2009, and the Arab Spring that happened in Egypt because they have invested 500 million and investors have lost intereses to invest in real estate in Egypt .

As for the attitude of government as a partner we have extremely supportive and understanding, the relationship and enthusiasm of the team in Montenegro is amazing. When I tell to potential buyers about Montenegro they say , we have heard for Porto Montenegro, and it helps us .
I encourage you to continue with such projects because they bring popularity and new investments.
Last year we sold 55 units and we did not have a brochures , and this year we have sold 12 units .

The integrated project is planned to offer 2,080 residential units, seven hotels with a total capacity of 1,370 rooms, 2 world-class marinas on the Adriatic Sea with 170 berths, an 18-hole golf course, a Thalasso Centre, commercial facilities, a town center, and basic infrastructure requirements. We launched the destination pre sales during 2012 along with the initial construction of the access roads, clearing and the marinas. Main construction works are expected to start in 2013. The project will be the first certified eco-labeled development in Montenegro.